Innovation lecture 8 Flashcards
Reciprocation
People want to give back to us what we have first given them
Social proof
When uncertain, people want to look around to see what others are doing before they act
Scarcity
When things are dwindling, and we want things that we can’t have
Commitment and consistency
People want to be consistent with what they already committed to
Authority
People want to follow the lead of legitimate experts
Liking
We prefer to say yes to those we know and like
Brand launch
Used when a company has created a new brand and wants to increase awareness
Brand awareness
A brand awareness campaign is one in which marketing efforts focus on building the awareness of a company brand
Product launch
Launching a new product involves marketing campaigns aimed at spreading awareness of the product and why customers need it
Advertising
Tv, radio, print, call/mail, billboard and posters, social media
Owned media
Media channels controlled by brand
Earned media
Consumers communicate about brand
Sales promotion
Short term incentives to encourage trial or usage of product or service
The ideal campaign
Reaches right consumer Creative ad Ad reflects Ad positions Ad motivates Ad creates strong associations
Coverage
Proportion of audience reached
Contribution
Create desired response and effect
Commonality
One package consistent and cohesive brand image and brand association
Complementarity
Robust and effective for multiple groups
Advantages IMC
IMC produces stronger messages and greater sales impact. Assigns responsibility to unify the company brand images
8 essentials for brand communication
Address they key business issue Build consistent long term brand equity Be focused on single minded strong idea Be highly visible Be locally relevant to core target Be likable Be exceptionally excellent Bring about a sale
